By Daniel Kanu
The Minister of Finance, Mrs Kemi Adeosun, on Sunday clarified what she called an “innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government.”
A press statement signed by the minister’s Special Adviser, Media and Publicity, Oluyinka Akintunde, said the clarification became necessary to correct media misrepresentations.
In the memo titled: Summary of Economic and Financial Crimes Commission Recoveries from May 2015-January 2018, Adeosun queried Magu’s figures, noting that the recovery figures attributed to the agency by various media reports do not reconcile with the records of the ministry.
The secret memo was apparently leaked, hence the “clarification.”
Below is full text of the clarification
Adeosun Clarifies Letter to EFCC Boss on Recovered Funds
The attention of the Honourable Minister of Finance, Mrs. Kemi Adeosun, has been drawn to media reports misrepresenting her innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government.
2. The Minister wishes to state explicitly that the letter dated 9th February, 2018, was a standard letter aimed at improving controls over the recovered funds.
3. There is no ulterior motive behind the letter as alleged in some media reports but to enable the reconciliation and harmonisation of the figures on recovered funds by the Government.
4. For the avoidance of doubt, the EFCC has subsequently provided the requested information and reconciliation is ongoing.
Signed:
Oluyinka Akintunde
Special Adviser, Media & Publicity to the Hon. Minister of Finance
Federal Ministry of Finance
25th March, 2018
Buhari, it was gathered, wanted an inventory to present to those who criticize the government for failing in the anti-graft war, rather than rely on propaganda to give the impression that it was achieving results.
But with different officials of the Federal Government eagerly beating their chest over how much has been recovered from former functionaries, there is a growing confusion in Abuja over the actual amount already recovered.
In May 2016, Minister of Information, Mr. Lai Mohammed, said government recovered N78.3 billion, $185 million, £3.5 million and €11,250.
In addition, he disclosed that 239 non-cash recoveries were made with interim forfeiture amounting to N126 billion, $9 billion, £2.4 million and €303,399.
He also put anticipated repatriation of looted funds from offshore sources at $321.3 million, £6.9m and €11,826, the minister added.
These figures are, however, different from those recently given by acting chairman of Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, late last year at the seventh session of the Conference of State Parties to the United Nations Convention Against Corruption in Vienna, Austria.
According to Magu, EFCC monetary recoveries between May 2015 and October 20, 2017 were in excess of N738.9 billion, which is equivalent to over $2.9 billion, adding “this does not include smaller currencies like Durham, CRA and British Pound,” he added.
“Within this year alone, the commission recovered stolen assets running into several millions of US dollars and billions in naira. This include the sum of $43 million recovered from Deziani Allison-Madueke, Nigeria’s former Minister of Petroleum and N2 billion spread in seven accounts within three Nigerian banks laundered from the Federal Capital Territory Police Command Salary Accounts,” he explained.
In the letter dated February 9, 2018, and personally signed by her, entitled “Summary of Economic and Financial Crimes Commission (EFCC) recoveries from May 2015 to January 2018”, the Finance minister wrote:
“This is to notify you of the records of cash assets recoveries in the custody of the Economic and Financial Crimes Commission (EFCC) from May 2015 till date based on the information available to the Office of the Accountant General of the Federation (attached).
“It has, however, come to the attention of the Ministry of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry.
“You are, therefore, kindly requested to clarify where these cash recoveries have been deposited and provide accompanying evidence.”
It will be recalled that one of the reasons given by the Senate for refusing to confirm Magu for the position was his inability to give figures of recoveries as of the time he was being interviewed by the committee of the whole house.
Some Nigerians have also accused the anti-graft agency of converting part of recovered looted funds to personal use by agents.
![Pinterest](https://pinterest.com/pin/create/button/?url=https://thenicheng.com/156592-2/&media=https://thenicheng.com/wp-content/uploads/2016/07/Minister-of-Finance-Mrs.-Kemi-Adeosun.jpg&description=Why I queried EFCC boss on recovered funds, explains Finance Minister, Adeosun. Minister of Finance, Mrs Kemi Adeosun, on Sunday clarified what she called an "innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government.){kind=link}